“真金白银”力挺A股，公募“接力”自购权益基金

Core Viewpoint - Several large public fund companies have recently announced self-purchase plans, indicating confidence in the long-term stability and health of the Chinese capital market [1][4]. Group 1: Self-Purchase Announcements - On August 11, Southern Fund announced a self-purchase plan involving an investment of at least 230 million yuan in three equity funds, committing to hold for at least one year [1][2]. - Four public fund companies, including Southern Fund, Industrial Bank of China Credit Fund, Taikang Fund, and Founder Fubon Fund, have announced self-purchase plans since July 28, with a total investment exceeding 260 million yuan [1][2]. - Southern Fund's self-purchase plan is particularly notable, with a commitment to invest in specific equity funds [2]. Group 2: Market Sentiment and Valuation - The self-purchase actions by multiple fund companies signal a recognition of the current market's reasonable valuations and a belief in the long-term investment value [4][8]. - According to Wind data, as of August 6, the price-to-earnings ratios for the CSI 300 Index and the Hang Seng Index were 13.93 and 11.83, respectively, both lower than major mature market indices, indicating a valuation advantage for Chinese stocks [3]. Group 3: Implications for Investors - Fund companies' self-purchases are seen as a way to enhance trust and stabilize investor sentiment, as they align the interests of fund companies with those of investors [4][9]. - While self-purchase can be a positive signal, it should not be the sole criterion for investment decisions; investors are advised to consider other factors such as fund manager capability and investment strategy [8][9]. - The trend of self-purchases has been ongoing, with over 100 fund management companies having implemented self-purchases this year, reflecting a broader industry movement [6][7].